Brazil 1816-M 960 reis

This specimen was lot 23283 in Heritage sale 3012 (Boston, August 2010), where it sold for $4,887.50. The catalog description[1] noted, "João VI Prince Regent 960 Reis 1816M, toned VF, struck over a Spanish colonial 8 Reales with some of the original legends readable in the peripheries, very rare mint for this series. The M mintmark has been effaced by the overstrike, but this elusive variety is well known to Brazilian specialists as the 6 in the date is re-engraved from a 0 on an 1810 die. From The Guariba Collection of Brazilian Coins." This silver 960 réis was minted at the Minas Gerais mint 1810-17. These coins were usually struck over Spanish-American dollars but many other undertypes are known. Large quantities were produced at Rio and Bahia, making this type the commonest Brazilian silver coin of the colonial period but Minas issues are rare.